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 Personal Money Planning'se-Newsletter for August 7, 2010 (to look at past issues, click here) |
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Each day for the next two decades, over 10,000 baby boomers are becoming eligible for Medicare and Social Security.
The average cost to provide health care benefits to an employee and their family for a small business is $13,700 per year. Note that this exceeds the total annual income of a minimum-wage worker.
(source:FPA Journal)
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Disclosure | |
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This newsletter is produced by Gary Silverman, dba Personal Money Planning, a registered investment advisor located in Wichita Falls, Texas.
Information in this newsletter is believed to provide accurate and authoritative information in regards to the subject matter covered. However, the accuracy, timeliness, or applicability of the information is not guaranteed and is provided with the understanding that we are not rendering legal, accounting, tax, or other professional advice or services.
This publication should not be construed by any consumer and/or prospective client as Personal Money Planning's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Nor should links provided to other sites be construed as the recommendation of the services or products mentioned on those sites. If such services are required, the help of a competent professional should be sought.
Remember that past performance may not be indicative of future results. Therefore, you should not assume that the future performance of any specific investment, investment strategy, or product made reference to (directly or indirectly) on this Website will be profitable or equal to indicated performance levels. Different types of investment involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for your investment portfolio.
Historical performance results for investment indexes and categories generally do not reflect the deduction of transaction or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results.
A copy of Personal Money Planning's current written disclosure statement discussing Personal Money Planning's business operations, services, and fees (known as an ADV Part II) is available from Personal Money Planning upon written request (and can be downloaded from our web site).
Personal Money Planning does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Personal Money Planning's web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
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FPA members avoid the pits when it comes to job satisfaction
The Financial Planning Association (FPA) is the largest organization made up of people in the financial planning industry. According to a survey from the FPA Research Center, 61% of their members are very satisfied with their careers and 33% are somewhat satisfied. Not bad when you consider we just had a long bear market along with the Great Recession.
I'm definitely one of those "very satisfied" chaps. While I can't say that every minute is a bowl of cherries, who would want that many cherries anyway? I get to help people, do analysis, and solve problems. I have a great work environment, my co-workers are marvelous, and the pay isn't half-bad either.
Gary
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| gary's Sunday newspaper column | Sunday Newspaper Articles You May Have Missed |
From the Wichita Falls Times Record News
Part 6 takes a look at the origins of the U.S. debt.
Part 7 shows how the U.S. continues to create new debts because of the desire for lots of "stuff".
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| gary's other newspaper column | Biz to Biz Article You May Have Missed |
From the Wichita Falls Times Record News Biz to Biz
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| articles links from | The Economist |
A New Arab Era
Brace yourself for potentially significant change in the Arab world's two most important states, both U.S. allies. Egypt has been ruled by Hosni Mubarak since 1981; he is now 82 years old and ailing. Saudi Arabia, run by King Abdullah (86) will also change hands before long.
Decades of repression have kept political opposition almost inaudible in both countries, but both are vulnerable to violent disruption, and transition in autocracies can mean temporary instability. More broadly, of the Arab League's 22 members, none has a stable or fully-fledged democracy. This article calls for both countries to, before implementing democratic reforms, lay a groundwork by creating a more transparent rule of law, independent courts, free media, women's and workers' rights, a market that is not confined to the ruler's friends, and a professional civil service and education system. http://www.economist.com/node/16591002
Aging Saudi kings and princes
The succession of King Abdullah could be messy at a delicate time in the world economy, potentially disrupting the flow of 20% of the world's oil, potentially changing the dynamics in the Middle East. This article says that the country has gradually loosened its oppressive conservatism--though not to the extent that women are allowed to drive automobiles--and hopes that the next ruler might accelerate the trend. Who will that be? Next in line is the king's half-brother, Crown Prince Sultan, who is just a year younger than the king and whose health is poor. One of the Sultan's full brothers, Prince Nayef, is 77 and described as "fairly spry," but he seldom travels outside the country, and has acquired a crusty reputation during his years as minister of the interior for the past 35 years. A new Allegiance Commission, made up of 35 sons and grandsons of Abdullah's father, will select the crown prince after Sultan becomes king, which may prevent Sultan from selecting one of his sons as successor.
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| FYI from BBB | Information You Can Use From Better Business Bureau |
New Overdraft Rules for Debit and ATM Cards
You now have control over how your bank handles your account when you swipe more than you can spend.
Be Aware of Credit Card Hacking at Hotels
A recent study found that 38 percent of credit card hacking cases involved the hotel industry. Read to the end for a reminder of a common scam.
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| from gary's facebook pages |
Facebook Stuff You May Have Missed: from Personal Money Planning
and Gary Silverman |
For information about Personal Money Planning, continued sharing of links about money, small business, finance, and the economy, be sure to link to the Personal Money Planning Page by Clicking Here: 
You may have already "friended" Gary on his personal Facebook page, if not, Friend Away by Clicking Here: 
Here are a few links from recent posts:
Saving that Million
Before you worry about how to get a high return on your investments, you first have to put aside some money to invest, as this Money Magazine article indicates.
Yes, this is just weird
When Gary finds a story entitled, "Pooping Robot Needs More Fiber," he has to pass it along. Now we just need another robot to clean up the litter box.
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parting thoughts
The Cost of "Free"
There is a wonderful change coming in the world of medical care. Many preventative services will now be free. That's right, free: no co-pays, no deductibles, no cost whatsoever. It's part of the new set of health care laws that were passed (see this healthcare.gov link for more information). By providing these services, people will finally get the care that they so desperately need. The result will be a healthier, happier, more productive America with lower health care costs in the future.
Or will it? No doubt many will take advantage of this, but many will not. Just because something is free doesn't mean that folks will find it of value. It will take some convincing for people to go to the doctor before they are sick.
Then there's the "free" part of the equation. I'm thinking that the doctors, nurses, and technicians aren't working for free, so the services are not really free. They are just free to the patient. Someone pays. That someone is the American taxpayer. With half paying no income taxes at all, the "haves" will be the ones paying both for their own services and for those of the "have-nots."
This doesn't mean that I don't like the idea. I just don't want anyone to think that any of this is free.
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That's all, for now.
Gary
Gary Silverman, CFP
Personal Money Planning
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©2010 Personal Money Planning. All rights are reserved by Personal Money Planning and content may not be reproduced, disseminated, or transferred in any form or by any means, except with the prior written permission of Personal Money Planning unless specifically noted. (Permission is not difficult to obtain.) The one exception is for downloading and printing information this newsletter for general education by the original recipient. |
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